I would love any feedback, comments, or questions :)
Side Note: Don't start a pyramid scheme, even if you explicitly state that it is a pyramid scheme and it's clearly a parody. It turns out a significant amount of people will still put a significant amount of money in
I think it's contributing to the decline of civilization, but you have to admire how a business investing approach can be applied to virtually anything.
Ponzis prey on greedy, foolish people - some of whom actually believe the lies being promoted about it being a real investment. It's even worse in the cryptocurrency world, where fools are convinced that they are buying shares in mining operations or super-secret trading bots.
These games should really be considered simulated bubbles instead of Ponzis. A Ponzi scheme collapses when the operator walks away with everyone's money. PoWH3D doesn't have an operator since it's totally decentralized. It will collapse when everyone decides to sell. Likewise, CryptoCelebrities will never crash but inevitably somebody will get stuck with a collectible that nobody else wants to buy. It's akin to buying a beanie baby or a tulip for an exorbitant price, only to find that there's nobody to resell it to.
PonzICO is another parody ICO started 11 months ago. Great white paper! https://ponzico.win/
See the docs here: https://etherglade.readme.io/docs/smart-contract-support
Please me know if you run into any problems/bugs or the documentation is confusing at all!
add metamask and ledger support to your site
- For small payments, or to trusted suppliers, no chargebacks
- For large one-time transactions, funds held in escrow for a given period
- For long term transactions, funds are committed but only accessed over time
Perhaps there won't be any chargebacks as we know them available in ethereum, but if you want to pay extra 1-2% as part of your payment to offset the risk (which is basically what you're doing now with credit cards, but enforced), that could be an option.
However, one of the concepts I'm working on to make it easier for the average person to use Ethereum is to introduce a hosted wallet option. If Etherglade hosts wallets, we could then introduce easy subscription functionality (which the user can manage). So definitely plausible down the road!
The smart contract could allow the user to withdraw the unused ETH to cancel the subscription but the fact that it still requires the entire amount upfront makes it an extremely poor user experience.